Ghana: Crude Maize Oil Market 2025

Crude Maize Oil Market Size in Ghana

In 2022, the Ghanian crude maize oil market decreased by -47.1% to $X for the first time since 2018, thus ending a three-year rising trend. Overall, consumption, however, recorded significant growth. Over the period under review, the market attained the maximum level at $X in 2021, and then fell sharply in the following year.

Crude Maize Oil Production in Ghana

In value terms, crude maize oil production totaled $X in 2022 estimated in export price. In general, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.5% against 2020 indices. The growth pace was the most rapid in 2014 with an increase of 42% against the previous year. Crude maize oil production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crude Maize Oil Exports

Exports from Ghana

After two years of decline, shipments abroad of crude maize (corn) oil decreased by 0% to X kg in 2022. Overall, exports recorded a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 220% against the previous year. The exports peaked at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, crude maize oil exports totaled $X in 2022. Over the period under review, exports enjoyed a modest increase. The most prominent rate of growth was recorded in 2013 when exports increased by 344% against the previous year. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Denmark (X kg) was the main destination for crude maize oil exports from Ghana, accounting for a approx. 50% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Denmark stood at +172.3%.

From 2012 to 2022, the average annual growth rate of value to Denmark stood at +176.0%.

Export Prices by Country

In 2022, the average crude maize oil export price amounted to $X per ton, almost unchanged from the previous year. In general, the export price saw strong growth. The growth pace was the most rapid in 2013 an increase of 39% against the previous year. The export price peaked in 2022 and is expected to retain growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Denmark.

From 2012 to 2022, the rate of growth in terms of prices for Niger amounted to +38.8% per year.

Crude Maize Oil Imports

Imports into Ghana

After three years of growth, purchases abroad of crude maize (corn) oil decreased by -48.1% to X tons in 2022. In general, imports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 when imports increased by 3,720% against the previous year. As a result, imports attained the peak of X tons, and then dropped sharply in the following year.

In value terms, crude maize oil imports reduced markedly to $X in 2022. Overall, imports, however, saw a significant expansion. The pace of growth was the most pronounced in 2021 when imports increased by 3,400%. As a result, imports attained the peak of $X, and then declined significantly in the following year.

Imports by Country

In 2022, Brazil (X tons) was the main crude maize oil supplier to Ghana, accounting for a 99% share of total imports. It was followed by the United States (X kg), with a 1.3% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest.

In value terms, Brazil ($X) constituted the largest supplier of crude maize (corn) oil to Ghana, comprising 99% of total imports. The second position in the ranking was taken by the United States ($X), with a 1.4% share of total imports.

From 2012 to 2022, the average annual growth rate of value from Brazil was relatively modest.

Import Prices by Country

In 2022, the average crude maize oil import price amounted to $X per ton, remaining stable against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 73% against the previous year. As a result, import price reached the peak level of $X per ton. From 2021 to 2022, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (-6.4%).

Source: IndexBox Platform

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